Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1887-06-16
FORTUNES LOST AND WON.
Excited Spectators in the Chicago Board
OF Trade-Heavy Falls and Fluctuations
In June and July Wheat-The Break
Nearly Over with no Signs of Perma.
nent Injury.
CHICAGO, June Is

CHICAGO, June Is,
There was an enormous crowd on the floor
and in the galleries of the board of trade long
before the opening hour this morning. When
the bell sounded at 8 80 o'clock roar went
up and the days session began. The first
sales Of wheat were at 754 cents for June and
10 cents for July, which was an advance OF 4
and respectively. Soon after the opening
President Wright announced the suspension
| of three small 6rms-J. B. Youth Co., B.
j. McCleary and H. c. Orr. The suspension
OF these firms did not cause any excitement
At 10 o'clock the price Was IA cents for
June and 754 cents for July. The su.pen-
sion of Pickering & Son. another small firm.
was announced at 10 o'clock.
kershaw & Co seem to have pulled throu gh
and are apparently meeting all claims. Ru-
NOR puts the amount Of money at their COM
mand at 81, ZOO, 900 The bears are steadily
pounding the market, hover, and princes
since 10 o'clock have declined. At 10. l6
O'Clock July wheat was 20. From that il
dropped to 74s; then down to 743; then to
I3s. then up an eighth to "a, and at 1850 it
was 134. June wheat has also declined and
WAS selling at 741 at TO- l5 u. IN. and at 70 at
10 80.
The last raid by the bears has had dis.
quieting effect on the board and there is a
renewal of the nervous excitement and un-
certainty of yesterday and early this morn
ing. This was probably increased by the
rumor that Kershaw & Co. would margin
their wheat down to 13 only. At 1890 the
wheat pit was as quiet as on any ordinary
day when the bears made another raid on
July wheat and it sold down by jumps to 73s
to 73i, to 734, to 73; then up to 734 and
back again to 70 cents. The pit is once
Anf nd
Members who sought the other pits during
the calm have apain returned to the wheat
pit. At II 80 liberal offers to buy wheat
were coming in from outside points and the
market is becoming steadier.
On the afternoon board there was better
feeling.
Kprshaw & Co. sent the following commu-
ncstIon:
I'VE are all tied up but solvent, and can
pay out in full if the market goes no lower.
We expect to extricate ourselves and pay in
full tomorrow forenoon.
The failure of Charles Henrohn, a promi-
nent stock broker and member of the New
York stock exchange, AID for manv years a
Belgian consul in Chicago, was general sur
prise and added to the uneasiness He ex-
poets to pay every dollar and resume bus-
ness.
1t is current today that suit has been
commenced by the failed firm of Rosenield
& Co., against Wiltshire, Eckert & Co., of
Cincinnati for 81 600, 900. The deputy sher-
if secured service during the afternoon on
Wiltshire while the latter was engaged in
conference in the Dearborn street bank
Rosenfeld said tonight that the suit was en-
tirey of civil nature. 1t had been brought
in hurry to secure on Wiltshire while he
was in town.
Seventeen firms were posted for failure
today, to settle margins. 20 900, 900 bushels
of wheat are involved. The losses for the
two days amount to s., 900, 900.